Copenhagen-based Corti, a medical AI platform, announced on Wednesday that it has secured $60M (approximately €56.11M) in a Series B round of funding.
The investment was co-led by Amsterdam-based Prosus Ventures and London’s Atomico, with participation from existing investors Eurazeo, EIFO, and Chr. Augustinus Fabrikker.
Sandeep Bakshi, Head of European Investments at Prosus Ventures, says, “The healthcare industry faces significant administrative burdens globally, leading to extensive practitioner burnout. Corti and its product suite provide system-wide efficiency improvements and enhancement of care provider abilities.”
“We’re confident in its leading technology, unique market offering, and experienced founding team, and believe Corti is well-positioned to fundamentally redefine both the patient and healthcare experiences,” adds Bakshi.
Revolutionising the healthcare industry
Founded in 2016 by Lars Maaløe and Andreas Cleve, Corti is a medical AI company that offers healthcare practitioners a voice-based AI platform for analysing patient interviews, helping them to make decisions faster and more accurately during a medical consultation.
Corti’s mission is to revolutionise healthcare through innovative technology, enhancing efficiency and patient care.
The company’s founders share a belief in the power of generative modelling to alleviate the strain on healthcare systems. Corti combines advanced audio technology, AI, and software to help healthcare systems deliver high-quality care at lower costs, allowing doctors to focus on patients rather than paperwork.
The company’s AI Co-Pilot, trained on vast patient interaction data, monitors real-time conversations, nudging professionals to enhance patient experiences and automates tasks like journaling, coding, and quality assurance.
This technology streamlines healthcare processes, ensuring accurate documentation and allowing professionals to prioritise patient care.
Cleve says, “For years, we’ve been proving that when humans and AI team up, the patient wins. This partnership between a healthcare professional and a Co-Pilot leads to best-in-class care, fewer errors, less red tape, and a better workflow, as every professional gets their own assistant.”
Corti claims to have achieved rapid growth over the past two years, forming partnerships with major healthcare providers and insurers in Europe and the US. The company’s services now impact around 100 million patients annually, assisting healthcare professionals more than 150,000 times daily.
Capital utilisation
Corti says it will use the funds to drive its global expansion and client base growth. The company’s AI technology, capable of understanding cases across languages and regions, aims to offer accessible, consistent, and high-quality healthcare advice globally at a lower cost.
With offices in Europe and the US, Corti aims to scale its impact on a global scale.
Cleve says, “Through this investment, we will work to amplify our impact as we’ll scale our offering to all kinds of healthcare professionals.”
Corti claims that its software can make healthcare workers up to 40 per cent more accurate in outcome predictions and 90 per cent faster in administrative tasks, ultimately aiming to give providers an extra day of work per week through automation.
Brief about the investors
Prosus is a global technology investor known for its focus on markets with long-term growth potential. It supports entrepreneurs who use technology to improve people’s lives.
Each month, more than 2 billion customers use the products and services of companies that Prosus has invested in, acquired or built.
UK-based Atomico is an investment firm that focuses on tech founders, particularly in Europe, providing support at the Series A stage and beyond. The firm, founded in 2006, manages $4B in assets and has a team with experiences at companies such as Skype, Google, Twitter, and Uber.
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